Market Data Current As Of: September 12, 2026
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Explore Udaan
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Leadership History
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Udaan (Hiveloop Technology Private Limited) is the digital architect of modern India's wholesale economy. Founded in 2016 in Bengaluru by three of the most revered technology executives from Flipkart's golden era—former Chief Technology Officer Amod Malviya, former President of Operations Sujeet Kumar, and former Senior VP of Business Vaibhav Gupta—Udaan was engineered to solve a colossal structural inefficiency in the Indian economy. For decades, India's retail consumption had been anchored not by giant supermarkets, but by 15 million independent, family-owned corner shops known as 'kiranas'. Yet these shopkeepers faced an agonizing wholesale ordeal: having to close their shops once a week, travel hours to crowded wholesale mandi markets, haggle with entrenched middlemen, pay inflated prices in cash, and arrange their own transport. Udaan transformed this broken trade architecture by building a powerful B2B digital marketplace. With a few taps on a smartphone, a kirana shopkeeper in a remote village can order flour, biscuits, smartphones, or jeans directly from national manufacturers, receive doorstep delivery in 24 to 48 hours, and access flexible working capital credit. Achieving unicorn status in an unprecedented 26 months, Udaan has digitized commerce for over 3 million retailers across more than 1,000 cities, proving that the future of Indian retail lies in empowering, rather than displacing, the neighborhood shopkeeper.
Udaan operates a multi-stream B2B commerce, logistics, and fintech monetization model: earning wholesale trading gross margins and commissions on goods sold across its platform (staples, packaged foods, FMCG, electronics, apparel), charging logistics fulfillment and delivery fees through its dedicated nationwide supply chain network, earning interest spreads and loan origination fees on working capital credit extended to retailers via its licensed NBFC (Udaan Capital), and charging brand listing and advertising fees to national FMCG manufacturers.
Udaan navigates heavy warehousing and logistics operational overhead across India's vast geography, razor-thin gross margins in wholesale food staples (rice, wheat, pulses), managing bad debt credit defaults among informal small retailers, and right-sizing unit economics toward sustainable profitability.
Vaibhav Gupta currently leads Udaan, overseeing strategic vision, balance sheet health, and organizational execution in B2B E-Commerce, Wholesale Supply Chain, Retailer Trade Networks, SMB Credit & Logistics.
Under executive direction, Udaan is prioritizing workflow automation alongside disciplined capital allocation to maximize shareholder value.
Leadership at Udaan has historically navigated industry cycles by restructuring operational priorities and expanding competitive moats.